WHEN Nathan Tinkler began lavishing a fortune on racehorses he was unabashed in his ambition: he wanted to become the most powerful man in the sport, says The Age in what it calls an exclusive report.The article states: But four years after commencing the most spectacular spending spree in racing's history - and having invested about $300 million - that ambition may go unrealised.Fairfax can reveal that in June Mr Tinkler tried to raise $200 million by selling his entire racing and breeding empi
WHEN Nathan Tinkler began lavishing a fortune on racehorses he was unabashed in his ambition: he wanted to become the most powerful man in the sport, says The Age in what it calls an exclusive report.
The article states: But four years after commencing the most spectacular spending spree in racing's history - and having invested about $300 million - that ambition may go unrealised.
Fairfax can reveal that in June Mr Tinkler tried to raise $200 million by selling his entire racing and breeding empire, which includes stud farms and private training centres, as well as more than 1000 racehorses, broodmares and stallions.
Mr Tinkler's racing company, Patinack Farm, approached Sheikh Fahad al-Thani - the Qatari royal who owns last year's Melbourne Cup winner Dunaden. But the deal was knocked back, with one source familiar with the offer describing it as "wishful thinking on Mr Tinkler's behalf".
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"Even if the Sheikh wanted to take on such a huge number of horses, $200 million was over the top. Tinkler may own hundreds of horses, but there isn't a lot of quality,'' the source said.
His attempt to offload his racing and breeding interests - which Fairfax last year calculated was costing him about $500,000 a week - will be keenly noted in financial circles. (www.theage.com.au)